Why Oil and Gold Prices Haven't Fallen Since the Iran-Israel Ceasefire

A ceasefire between Iran and Israel took effect June 24, 2025. Yet as of late May 2026, oil and gold prices remain elevated—not because the war is ongoing, but because markets still fear future disruption. Peace on paper doesn't erase the risk that fighting could restart. That lingering worry keeps prices higher than they would otherwise be, squeezing returns for savers and investors holding these assets.